October brought major changes for Trump Accounts (also known as 530A Accounts), the new tax-advantaged investment accounts for kids. Many parents have asked if their children already have an account, what steps to take, and how these accounts fit into their family’s financial plan. Here’s a simple summary of what happened recently and our recommendations.

The Biggest Update: Automatic Enrollment 

On October 1, the Treasury Department announced that automatic enrollment for Trump Accounts is complete. Every eligible child under 18 with a valid Social Security number now has an account.

There’s an important detail: just because an account exists doesn’t mean you can use it right away. A parent or guardian needs to claim and activate the account before managing it or to allow family, friends, and employers to contribute.

Key Points to Know

• Eligibility: A child needs a valid Social Security number and must not turn 18 before the end of the calendar year in which the account is established.
• The $1,000 government contribution: Children who are U.S. citizens born between January 1, 2025 and December 31, 2028 may get a one-time $1,000 deposit. To receive it, you need to submit Form 4547, even if the Treasury opened the account automatically. You also must claim the account first.
• How to claim the account: Download the official Trump Accounts app (for iOS or Android) or go to TrumpAccounts.gov. Verify your identity and authority, then follow the activation steps. Make sure names, Social Security numbers, and birth dates match Social Security Administration records to prevent delays.
• Contribution limits: Family and friends can add up to $5,000 each year. Employers can add up to $2,500 per year, but the total annual limit cannot exceed $5,000.
• Who runs the accounts: Right now, all accounts are held and administered by Robinhood. Plans to expand to more providers are expected in the future.
• Newborns: Starting October 20, 2026 the Social Security Administration now includes Trump Account instructions with each newborn’s Social Security card.

Your Action Checklist

• Check each child’s status in the official app or at TrumpAccounts.gov.
• Claim and activate the account for every eligible child.
• Elect the $1,000 contribution with Form 4547 if your child was born from 2025 through 2028 and you have not already done so.
• Watch for IRS notices. If you receive Notice CP318, follow its instructions to correct or complete your election. 
• Beware of scams. Treasury will never ask for passwords or codes by email, text, or phone. Use only the official app and call 1-866-USA-4547 for help.

Donations from Charities and the Dell $250 Deposit

These accounts can also get philanthropic gifts and children can qualify for these gifts automatically. Recent regulations allow individuals, corporations, and major philanthropists to contribute cash or individual stocks directly into these accounts. You don’t need to apply for these gifts, but you do need to claim the account to see them.

The biggest gift so far is from Michael and Susan Dell, who gave $6.25 billion to put $250 into the Trump Accounts of 25 million children born from 2016 to 2024. All deposits were made by October 9th. The funds were given out by ZIP code, starting with the lowest median family incomes, until 25 million children were reached. The final cutoff was a median family income of $117,300 or less, and children on military bases were also included.

How to check whether your ZIP code received the Dell gift:

1. Visit the Invest America eligibility page and enter your ZIP code. It will tell you whether your ZIP code was included.
2. Confirm with the account itself. Open the Trump Accounts app and look for the $250 deposit in your child’s account. You must claim the account first.

Your household income didn’t affect this gift—only your ZIP code did. Many Arkansas zip codes were included, such as 72205, 72211 and 72227 here in Little Rock. If your ZIP code wasn’t included, your child still has an account and may qualify for other contributions, like the federal $1,000 for newborns or gifts from family or employers. We can help you check your child’s account and make sure nothing is missing.

How We Think About Trump Accounts in Your Financial Plan

Trump Accounts work like a type of IRA, so they’re designed for long-term growth and have different rules than other savings options. We think of these accounts as an early retirement account for children. Before adding new money, we suggest comparing it with your other financial priorities:

• Take the free money first. The $1,000 seed deposit and any employer or philanthropic contributions cost you nothing, so claiming the account is an easy first step.
• Compare with 529 plans and other accounts. Education savings, custodial accounts, and your own retirement contributions may fit your goals and tax situation in different ways. Withdrawal rules for Trump Accounts are important, so we’ll review them with you before you make big contributions.
• Coordinate gifts from relatives. Grandparents and others can give up to the annual limit. We can help you create a clear plan so these gifts support your overall strategy.
• Keep the big picture in mind. Usually, your emergency fund, retirement savings, and paying off debt should come before adding more to children’s accounts.

If you’re not sure whether your children’s accounts are claimed, or how a Trump Account fits with your other goals, contact our office to set up a conversation. We’re happy to walk through the app with you and review your family’s overall financial plan.

Mary McCraw, CFP®
Vice President

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